You have to identify your weaknesses and work to change. Keep a trading diary – write down your reasons for entering and exiting every trade. Look for repetitive patterns of success and failure
USD
EUR/USD
The Shared currency rocketed to $1.1120 on back of a relief rally built on constructive peace talks between Ukraine and Russia.
GBP/USD
The Cable darted higher to $1.3110 although British Prime Minister Boris Johnson said a ceasefire agreement in Ukraine will not be enough to lift British sanctions against Russia.
USD/JPY
The Japanese yen soared to 121.98 on U.S dollar weakness and also supported by the BOJ's intervention in the bond market.
AUD/USD
The Aussie dollar boosted to $0.7527 as upbeat market sentiment has improved the demand for risk-sensitive assets.
USD/CAD
The Canadian dollar firmed at 1.2487 against the greenback despite oil prices tumbled.
USD/ZAR
South Africa's rand sailed higher to 14.50 per U.S dollar on positive noises coming from Turkey where Russia and Ukraine made some progress in peace talks.
USD/MUR
The dollar rupee pinned at 44.50(selling).
12:00 - EUR - ECB President Lagarde Speaks
16:15 - USD - ADP Nonfarm Employment change
16:30 - USD - GDP - (QoQ)(Q4)
18:30 - USD - Crude Oil Inventories
After bouncing back from key resistance level 0.6262 from the upside as per our last forecast (see below) , NZDCHF sworn down to 0.6144 but lacked sufficient selling pressure to continue its downtrend.
It appears that final wave Y of W-X-Y correction is quite complex and there might be 2 scenarios popping up in the near term.
Scenario 1 : we could have reached final wave ‘e’ before downtrend resumes. (As per Elliott wave principle a triangle can be formed as final wave C of wave Y of W-X-Y correction)
Key resistance level is wave ‘e’ of barrier triangle of wave C – 0.6259.
